Comprehension of flrot-doqroc price discrimination requires an understanding of

Question

Comprehension of flrot-doqroc price discrimination requires an understanding of the concept of price leadership consumers' surplus peak-load pricing tying sales elasticity of demand Which one of the following it not correct? vertical merger involves a combining of one or more firms: as the result of one firm purchasing the assets of the other, chad are operating in entirely different industries. operating at the same stage of the production process. operating at different stages of the production process in a given industry. tying contracts which lessen competition are specifically illegal under provisions of: the Sherman Act. the Federal Trade Commission Act. the Clayton Acl. The Caller-Kefauver Act. none of the above acis.

Explanation / Answer

43
Ans is A
There is no welfare loss
44
Ans is b
ection 1 of the Sherman Antitrust Act prohibits agreements in restraint of trade--such as price-fixing, refusals to deal, bid-rigging, etc.
Section 2 of the Sherman Antitrust Act forbids monopolizing or attempting to monopolize. Basically it prohibits firms from using bad conduct or abusive behavior to become a monopolist or using such behavior if they're already a monopoly.
45
Ans is B
Consumer surplus is captured by the firm
46
Ans is C
Sherman act 1890;rest came later

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